Consumer Confidence Highest in Over Five Years

New York, NY, May 28, 2013 -- Consumer confidence in May rose to the highest level in more than five years, according to the Conference Board.

The research group's index rose to 76.2, the strongest since February 2008.

The median forecast of economists called for an increase to 71.2.

The Conference Board’s measure of consumer present conditions rose to 66.7 in May, the highest since May 2008, from 61 a month earlier.

The gauge of expectations for the next six months jumped to 82.4, the highest since October, from 74.3.